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Challenges of Upsizing to a Bigger Home in Portland

Whether you recently got a promotion and pay raise at work or your family is growing quickly, you may have made the decision to upsize to a bigger home in Portland.

It’s likely that when you bought your existing home, it was just you or yourself and your spouse. Now that you are starting to have kids, or welcoming your in laws to live with you, it’s time to make an upgrade. According to Realtor.com, one in five Americans now lives in a multigenerational household—one with two or more adult generations, or sets of grandparents living with grandchildren. This level hasn’t been seen in this country since 1950!

If you thought you were done with a full house because your kids are in college or older, think again. More and more older children are coming back to live with their parents. In fact, it’s the preferred living arrangement for 18- to 34-year-olds. Plus, more than one-fifth of Americans over 55 live in a multigenerational household.

How do you look for a home that can accommodate so many people under one roof? Before you upsize, there are many things to think about beyond just the square footage.

Determine Goals

Well, you know you want more space, but why do you want more space? And more specifically, which rooms do you require to be bigger? Perhaps you love to entertain and are sick of having a cramped kitchen that doesn’t flow well. For the new house, a large, well-flowing kitchen in Portland will be on your list of must-haves.

Are your in-laws in failing health with mobility issues? You will want an in-law apartment that’s somewhat set apart from the main household to maintain independence yet provide for the closeness that regular care will require.

Do you have a large family with many small children? An open concept home can be both a blessing and a curse. On one hand, it will allow for more space to roam around so you can keep a close eye on them, but it can also get quite noisy and chaotic with no well-defined spaces.

Taking the time to list your goals will help you to prioritize your home search moving forward.

Is Bigger Necessarily Better?

When searching for a new home in Portland, home to 645,000, consider square footage, yes – but don’t forget about the layout. Because we’re in such a hot seller’s market, builders are building large homes on tiny lots, looking to make the biggest bang for their buck.

But while a large house is spacious enough for your growing family, it doesn’t really address your outdoor needs as well. With no land for a swing set, pool, or just to run around, what’s the point?

Also, even though a large home may have lots of bedrooms, each one of those bedrooms tends to be smaller than in a more modestly sized home.

Purchase Only the Space You Will Use

Make sure the large home’s rooms or features are ones you will actually use. If the house you’re looking at has a movie theater in it, it may sound cool at first. But if you don’t enjoy movies, or prefer to snuggle up with your partner on the couch to watch a good flick, this room will go largely unused.

Budget it Out

There is a real financial burden that comes with upsizing. Not only do you have to worry about the sticker price of the house and the monthly mortgage, you have to think about the long-term costs that come with it too. When you upgrade to more square footage, you have higher property taxes, higher utilities, and much more maintenance – not to mention the fact that you have to furnish that great big house.

Do your research to determine if you can truly afford the long-term cost of the home.

Consider Resale Value

Upsizing now can translate to a nice profit later. You may assume this will be your forever home, but things change and you may find yourself needing to sell a few years down the road. That walk-in shower with glass walls and no tub sounded good when you bought the home as an older couple with kids in college, but it won’t appeal to young home buyers with small children for whom tub time is a night time necessity.

You have to view your new home in the eyes of future buyers. Do your homework on the home and make sure it has flexible, functional spaces. Guest rooms are increasingly more important to older adult children of Baby Boomers. They want to know they will have a comfortable place for their aging parents to come visit.

More Space Means a Different Neighborhood

If there’s one adage in real estate that bears repeating, it’s: location, location, location. That means the neighborhood you choose to buy in is essential. Maybe your first starter home was located in a nice up-and-coming community that was close to the city, restaurants, coffee bars, and public transportation. But now that you want a home with more space to spread out, you’ll likely have to look well outside the city limits to the suburbs and more sprawling neighborhoods.

You may have to consider moving a half hour away or more from downtown Portland if you want increased square footage with a large yard for your kids to play in.

In the end, it all comes down to your budget and your preferences. You also need to make sure you’re partnering with a mover skilled in handling Portland moves of all types.

Contact Portland Move

Looking to upsize to a bigger home in Portland or one of the suburbs? No problem. We have lots of experience in this arena. Just call us today for a free quote at (971) 226-6687.

 

 

 

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